Effective August 2020, Imperial acquired a 49% shareholding in Pharmafrique Proprietary Limited (trading as Kiara Health) for c.R76 million. Kiara Health is a pharmaceutical manufacturing and healthcare services company based in Johannesburg, South Africa, which serves as the local manufacturing partner for a global leader in generic and biosimilar medicines. This acquisition is in line with Imperial's strategy to backward integrate into contract manufacturing as part of its market access service to multi-nationals on the continent. Access to this capability will create a pipeline of distribution opportunities for our market access and logistics businesses in the healthcare industry in South Africa and the rest of the continent.
With effect from 1 February 2021, Imperial acquired Parcel Ninja, the specialised warehousing and distribution management business. Enabled with leading software, processes and people capabilities in South Africa, Parcel Ninja provides fulfilment in both B2C and B2B channels including the informal market, supported by the management and optimisation of courier parcel deliveries. This acquisition supports Imperial's strategic ambitions to accelerate our digital capabilities and expand our logistics and market access services into last mile distribution, e-commerce fulfilment, footprint and scale in Africa, while ensuring local relevance for our clients and principals.
In November 2020, Imperial invested in a partnership with Lori Systems to expand its cutting-edge e-logistics technology solutions across Africa. This strategic partnership is the first of its kind at this scale and scope on the African continent. Lori Systems is the leading e-logistics platform in Africa and co-ordinates haulage in frontier markets. The Imperial Venture Fund, managed by Newtown Partners – a US venture capital firm – recently concluded an investment in Lori Systems to support its growth in East and West Africa. The Imperial and Lori Systems partnership in the Southern African Development Community (SADC) region will help to develop and enhance Africa's road freight industry through digital innovation and enablement.
A process is underway to enhance Imperial's B-BBEE credentials at the South African business level. More detail will be provided in due course as this process progresses.